The Cambridgeshire and Peterborough Combined Authority has secured £26 million in government funding to clean up and build on old industrial land across Peterborough, Cambridgeshire. This funding, announced on 25 March 2026, is part of a national plan to transform derelict or boarded-up sites into new housing and business spaces that are close to existing transport links and local jobs.
Peterborough has been named as one of four opportunity zones in the region that will receive focused investment to help grow the local economy. The money comes from a larger £234 million national fund designed to create 8,000 new homes on land that has previously been used for industry but now sits empty.
Mayor Paul Bristow said the new funding is a major show of support for plans to triple the size of the local economy by 2050. He explained that these empty sites should be prime spots for development and that this cash will help prepare the ground so builders can begin work on the land quickly.
This investment follows a separate £40 million project recently launched by Peterborough City Council to improve local neighbourhoods. That project is focusing on the regeneration of specific areas including Paston, Gunthorpe, Welland, Orton Malborne, and Orton Goldhay.
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